Brit appoints FD despite £880mn Apollo talks
Lloyd's takeover target Brit Insurance has ended its search for a group finance director by hiring former Zurich Financial Services (ZFS) senior executive Scott Egan to replace Matthew Scales.
The appointment comes while Brit is locked in discussions with US private equity suitor Apollo over a possible 1,075p per share offer that would value the UK insurer at around £880mn.
Scales announced his intention to step down as group CFO earlier in the year and will remain with the group...
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